Portage Biotech Inc. has announced a change in its independent registered accounting firm. On May 29, 2025, Marcum LLP resigned from its role, and CBIZ CPAs P.C. was appointed as the new auditor with the approval of the company's Audit Committee. This change follows CBIZ CPAs' acquisition of Marcum's attest business on November 1, 2024. During the fiscal years ending March 31, 2022, 2023, and 2024, Portage Biotech reported no disagreements with Marcum on accounting principles or practices. However, a material weakness was identified regarding the company's information technology general controls, such as privileged access rights and user access reviews, which could potentially lead to inappropriate financial transactions. These issues were disclosed in the company's annual report and are being addressed to ensure effective financial controls.
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